Legal Fee & Stamp Duty

1. How do I calculate legal fees for sale and purchase agreement?

We recommend you to download EasyLaw phone app calculator to calculate it easily. The formula for legal fees for a sale and purchase agreement is regulated under the Solicitor Renumeration (Amendment) Order 2017 as follows:-

SPA/Loan Price

Scale of Legal Fee

First RM500,000

1% (min RM500)

Next RM500,000

0.8%

Next RM2,000,000

0.7%

Next RM2,000,000

0.6%

Next RM2,500,000

0.5%

Remaining

Negotiable but not more than 0.5%

Subsidiary Documents

10% of principle legal fee (min RM300 and max RM1,200)

2. How do I calculate the stamp duty chargeable on my property?

We recommend you to download EasyLaw phone app calculator to calculate it easily. Under the Stamp Act, the stamp duty of the property is calculated on basis below:-

For the first RM 100,000

1%

Subsequent up to RM 500,000

2%

Subsequent onward

3%

3. I would like to transfer my property to my spouse/children, am I entitled to any discount/remission on the stamp duty?

Yes. Under the Stamp Act, any transfer by way of love and affection is subject to a discount or remission of 50% of the stamp duty on the property.

4. How do I calculate the legal fee and stamp duty chargeable for my bank loan application?

We recommend you to download EasyLaw phone app calculator to calculate it easily. Under the Stamp Act, the stamp duty payable for the loan documentation would be 0.5% on the total amount of the loan granted to the borrower.

Further Inquiries? You may contact our panel lawyers/ the author of this article.

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